Non-executive directors are recognised under the Corporations Act and are subject to the same duties and liabilities as executive directors.
Clearly Mr Darby (and arguably Ms Darby) aren't "independent" Directors and the Board does not have a sufficient mix of skills and independent Directors to meet ASX Governance guidelines.
The point I was trying to make was the change in roles by our former MD (and now convicted felon) is all smoke and mirrors as he and "sis" still run the company. In the end legally it doesn't matter but I think SH and future investors should demand the total removal of this criminal (subject to appeal) from any and all roles in CDB.
The outcome ... They raise a few million with the consolidation and CR and blow it on consulting and Directors fees instead of salary and bonuses and CDB still has the same management.
IMO .......GXN and PRW look like they will be finally throwing out the Pirate and his crew so CDB will be the new treasure chest to fund their lifestyle.
It's the Wild West, the Sheriff is asleep and no one has got your back.
CDB Price at posting:
0.1¢ Sentiment: Sell Disclosure: Held
